Payden & Rygel Grows Position in Amgen Inc. (NASDAQ:AMGN)

Payden & Rygel increased its position in Amgen Inc. (NASDAQ:AMGN) by 0.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,400 shares of the medical research company’s stock after buying an additional 200 shares during the quarter. Payden & Rygel’s holdings in Amgen were worth $11,406,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new position in shares of Amgen during the third quarter valued at about $25,000. Strategic Financial Concepts LLC purchased a new stake in Amgen in the 2nd quarter worth approximately $26,000. Hershey Financial Advisers LLC bought a new stake in shares of Amgen in the 2nd quarter worth approximately $30,000. nVerses Capital LLC purchased a new position in shares of Amgen during the second quarter valued at approximately $31,000. Finally, Bbjs Financial Advisors LLC bought a new position in shares of Amgen during the second quarter valued at approximately $33,000. 76.50% of the stock is currently owned by institutional investors.

Amgen Price Performance

NASDAQ AMGN opened at $287.87 on Thursday. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. The business’s fifty day moving average is $318.08 and its 200 day moving average is $318.22. The company has a market capitalization of $154.74 billion, a PE ratio of 36.86, a price-to-earnings-growth ratio of 2.53 and a beta of 0.60. Amgen Inc. has a fifty-two week low of $260.52 and a fifty-two week high of $346.85.

Amgen (NASDAQ:AMGN) last released its earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The company had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.50 billion. During the same period in the prior year, the firm posted $4.96 EPS. The firm’s quarterly revenue was up 23.2% compared to the same quarter last year. Sell-side analysts predict that Amgen Inc. will post 19.51 earnings per share for the current year.

Amgen Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be paid a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s dividend payout ratio (DPR) is 115.24%.

Analyst Upgrades and Downgrades

Several brokerages have commented on AMGN. Bank of America upped their price objective on shares of Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Royal Bank of Canada reiterated an “outperform” rating and issued a $362.00 price target on shares of Amgen in a research note on Thursday, September 26th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $305.00 price target (down previously from $310.00) on shares of Amgen in a research note on Wednesday, August 7th. Wolfe Research initiated coverage on shares of Amgen in a research report on Friday, November 15th. They set a “peer perform” rating on the stock. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $405.00 target price on shares of Amgen in a report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $333.57.

Amgen Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. The company's principal products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Prolia to treat postmenopausal women with osteoporosis; XGEVA for skeletal-related events prevention; Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization; Nplate for the treatment of patients with immune thrombocytopenia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Aranesp to treat a lower-than-normal number of red blood cells and anemia; EVENITY for the treatment of osteoporosis in postmenopausal for men and women; Vectibix to treat patients with wild-type RAS metastatic colorectal cancer; BLINCYTO for the treatment of patients with acute lymphoblastic leukemia; TEPEZZA to treat thyroid eye disease; and KRYSTEXXA for the treatment of chronic refractory gout.